Tesla said on Wednesday that is about to launch cheaper models of electric vehicles in the first half of 2025 and will start testing an autonomous transport service in June, enthusiastic investors and obscuring the quarterly results that have passed under the expectations.
Tesla’s market value fired the election of the President of the United States Donald Trump, who is an ally near the company’s executive president, Elon Musk. However, the electric car company recorded a drop in sales last year, increasing the pressure for the launch of lower prices, as well as autonomous vehicles and software which, according to Musk, support their financial future.
The shares of the car manufacturer increased by 4.7%, with Tesla saying that it is cutting costs and works on new vehicles.
“Accessibility remains the main concern of customers and we continue to analyze all aspects of our cost for the product sold,” said the company in its report on the results. Tesla added that these costs have reached the lower level in the fourth quarter, below $ 35,000, led by lower raw materials.
Tesla has a story of delays in the delivery of the product and the company’s new commitment to launch new vehicles in the first half is positive, said Thomas Martin, Senior Globalt Investments Portfolio Manager, shareholder of Tesla.
“They were able to perform on the costs side and decrease them. Their ability to do it in the fourth quarter has certainly relieved the impact,” he added.
Tesla has also reported progress in her autonomous steering software.
Musk told analysts and investors in a teleconference that the company will begin to test a paid automotive service in Austin, Texas, within a few months.
“Teslas will circulate without anyone within them in June in Austin,” he said.
Tesla’s profit margin with vehicle sales, excluding regulatory credits, fell to 13.59% in the fourth quarter, from 17.05% in the previous three months, according to Reuters’ calculations. Wall Street expected that the figure was 16.2%, according to 23 analysts consulted by Visible Alpha.
The revenues were $ 25.71 billion from October to December, lower than the estimates compiled by $ 27.27 billion.
The gross profit margin of the company ended the quarter of 16.3%, even below the estimates of 19.03%, according to 20 analysts consulted by LSEG. In the third quarter, Tesla recorded a profit margin of 19.8%.
Source: Terra
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